Standard Chartered expects Malaysia’s Gross Domestic Product (GDP) growth to pick up to 4.8% in 2024 from 4.3% in 2023, with domestic demand likely to be a key growth driver.
Standard Chartered expects Malaysia ’s Gross Domestic Product (GDP) growth to pick up to 4.8% in 2024 from 4.3% in 2023, with domestic demand likely to be a key growth driver. Looking ahead at some of the key economic trends to come in 2024, this year’s Global Focus report expects global GDP growth to slow marginally to 2.9% in 2024 from 3.1% in 2023.
The publication anticipates that the world economy may be able to achieve a soft landing after the most aggressive monetary tightening cycle in years. However, inflation and geopolitics pose the biggest threats to this scenario. In contrast, Asia’s growth should slow only slightly to 4.9%, making it the world’s fastest-growing region. While China’s growth may remain lacklustre, improving exports and tourism should drive stronger recoveries in some Asian economies; in India, Standard Chartered expects a post-election growth pick-up. Against this backdrop, Malaysia’s economy is expected to remain steady in 2024 amidst global uncertaintie
Malaysia GDP Growth Domestic Demand Economic Trends Global Uncertainties
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